FILE - In this Oct. 8, 2014, file photo, people walk to work on Wall Street beneath a statue of George Washington, in New York. U.S. stocks are opening higher Tuesday, Nov. 21, 2017, as most industries, including technology and health care companies, start the day with solid gains. (AP Photo/Mark Lennihan, File)

ANALYST'S TAKE: "One can say that the leads we have today for Asia are about as upbeat for risk appetite as the bulls could hope for," said Chris Weston of IG in a report. "Emerging markets are flying and this is where traders are really generating outperformance. Asia, in particular, is looking super strong."

U.S. FED WATCH: Chair Janet Yellen said the Federal Reserve needs to craft an interest rate policy that avoids putting the economy through a "boom-bust" cycle. Yellen's speech Tuesday echoed previous remarks on inflation, reinforcing expectations the Fed will continue with gradual rate hikes. Yellen is due to leave the Fed next year but economists expect no major changes in policy.

ENERGY: Benchmark U.S. crude rose 91 cents to $57.74 per barrel in electronic trading on the New York Mercantile Exchange. The contract rose 41 cents on Tuesday to close at $56.83. Brent crude, used to price international oils, gained 42 cents to $62.99 in London. It advanced 35 cents the previous session to $62.57.

CURRENCY: The dollar declined to 112.29 yen from Tuesday's 112.44 yen. The euro was little-changed at $1.1741.